Hsbc Holdings PLC Acquires New Position in Ardelyx, Inc. (NASDAQ:ARDX)

Hsbc Holdings PLC acquired a new stake in Ardelyx, Inc. (NASDAQ:ARDX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 281,764 shares of the biopharmaceutical company’s stock, valued at approximately $1,423,000. Hsbc Holdings PLC owned 0.12% of Ardelyx as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. raised its holdings in shares of Ardelyx by 3.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock worth $599,000 after acquiring an additional 3,000 shares in the last quarter. Swiss National Bank increased its position in Ardelyx by 1.0% in the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock worth $2,348,000 after purchasing an additional 4,800 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Ardelyx by 42.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 4,933 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Ardelyx by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 4,942 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Ardelyx by 1.9% in the fourth quarter. Rhumbline Advisers now owns 326,124 shares of the biopharmaceutical company’s stock worth $1,653,000 after buying an additional 6,070 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARDX. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, March 7th. BTIG Research started coverage on shares of Ardelyx in a report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price objective for the company. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a report on Tuesday, March 4th. Piper Sandler upgraded Ardelyx to a “hold” rating in a research note on Wednesday, March 12th. Finally, Raymond James downgraded Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 price objective on the stock. in a research note on Friday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.39.

Insider Activity

In other news, Director David M. Mott bought 77,729 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $388,645.00. Following the completion of the purchase, the director now owns 2,015,494 shares of the company’s stock, valued at $10,077,470. This trade represents a 4.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Raab sold 22,964 shares of Ardelyx stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $129,057.68. Following the sale, the chief executive officer now owns 1,085,755 shares in the company, valued at $6,101,943.10. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,410 shares of company stock valued at $600,475. Insiders own 5.90% of the company’s stock.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $4.13 on Friday. Ardelyx, Inc. has a 12 month low of $4.02 and a 12 month high of $9.33. The company has a market cap of $984.41 million, a P/E ratio of -25.81 and a beta of 0.76. The business’s 50 day moving average is $5.00 and its two-hundred day moving average is $5.25. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The company had revenue of $74.11 million for the quarter, compared to the consensus estimate of $79.40 million. During the same period last year, the firm posted ($0.11) EPS. The company’s revenue was up 61.1% compared to the same quarter last year. On average, equities analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current year.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.